Appointment of examiner to eircom Group confirmed

The High Court today confirmed the appointment of an examiner to three eircom Group companies.

Mr Justice Peter Kelly confirmed the appointment of Michael McAteer of Grant Thornton as examiner to Eircom Limited, Meteor Mobile Communications Limited, and Irish Telecommunications Investments Limited.

Mr McAteer has set a deadline of April 23 for any interested parties to express an interest in a sales process. If required, this process will be managed by Morgan Stanley.

"It is the Examiner’s intention that impaired creditors will be notified of his proposal for eircom as a going concern, by Friday 11 May 2012," Eircom said in a statement.

"Creditor meetings will then be held the following week.

"The Court will be informed of the results of these meetings as soon as practicable and it is hoped that a confirmation hearing will conclude the proceedings before the end of May 2012, well in advance of the statutory maximum length for an examinership process of 100 days."

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